I don't like indicators.
They tell you what you should have done, not what you should do right now.
They tell you what you should have done, not what you should do right now.
That just means you don't know what indicators are.
Topic: BTC drop to next level coming...bail the F out now! - page 4. (Read 24657 times)
That just means you don't know what indicators are.
the higher the volume the more control an exchange has right.
If that is true, bitstamp is just a puppet
If that is true, bitstamp is just a puppet
More BTC are accumulating at $569.500, definitely going down further soon.
... Anyway,... I'm going for lunch, starving...
... Anyway,... I'm going for lunch, starving...
I don't think you can dominate the market with only 1k coins. the total volume of okcoin is 56,682.36฿ alone.(in last 24h).
What exchange are you looking at, bitstamp?
Bitstamp doesn't lead, bitstamp follows okcoin.(because of the 'low' volume)
So if there was any manipulation it would happen on okcoin.
Besides these blocks are probably just an accumulation of coins from a lot of people.
What exchange are you looking at, bitstamp?
Bitstamp doesn't lead, bitstamp follows okcoin.(because of the 'low' volume)
So if there was any manipulation it would happen on okcoin.
Besides these blocks are probably just an accumulation of coins from a lot of people.
Yes, BitStamp, and also have access and currently looking at BitFinex, Kraken, Houbi, Btc-E, and BtcChina on my screens, I quite disagree about OkCoin driving it, as there are a lot of BTCs in BitSTamp's wallet to even drive BitFinex now!
I just noticed now that DownBlock have just been pushed downwards another $5.
I initially thought it's a group of people, but when I started seeing the blocks moving programatically, the only explanation is that it's an organised movement, it's by someone knowing exactly what they're doing.
BTC could be going down again (slower).
I don't think you can dominate the market with only 1k coins. the total volume of okcoin is 56,682.36฿ alone.(in last 24h).
What exchange are you looking at, bitstamp?
Bitstamp doesn't lead, bitstamp follows okcoin.(because of the 'low' volume)
So if there was any manipulation it would happen on okcoin.
Besides these blocks are probably just an accumulation of coins from a lot of people.
What exchange are you looking at, bitstamp?
Bitstamp doesn't lead, bitstamp follows okcoin.(because of the 'low' volume)
So if there was any manipulation it would happen on okcoin.
Besides these blocks are probably just an accumulation of coins from a lot of people.
Just saw the UPBlock pushed upwards into $595.
Are we going up soon?!...
Are we going up soon?!...
OK,
No charts, here is what's happening (or at least what I am seeing) in layman's terms:
1) Few days ago, someone (or a group of people) placed an order to sell a 1000 coins @ $605. This causes the uptrend to almost stop going up beyond this line. I call this an "UpBlock".
2) Another DownBlock was placed the opposite way @ $540.5, this causes it to not go beyond this line.
3) As the BTC price as a result of (1) above, goes a little downwards (about between $5 or $10), the UpBlock is moved backwards to block any uprise in BTC closer to the new "lower" price.
4) During this movement; say it's now at $570, then someone places an ASK order for $100 at $571, and then another for $50 at $565, this causes a slow-tip downwards.
5) With the BTC bought above from (4), as they accumulate (Generate some BTCs as a result of buying), they would be placed to "Sell Now" type order which are about 100 BTC's each, this causes the price to shoot downwards for about $10 eventually in a ripple-effect.
6) There are about 3-4 people repeating the same, few seconds apart between them. this causes the price to go down further.
7) As the price has gone down another $10, the above is repeated.
8 ) Currently, the UpBlock as a result has been moved down gradually so far and currently at $569.500 for 1164 BTC's.
9) As I estimated earlier few days ago, I was expecting it to go into $573, but now with 900 BTC's placed downwards on $540, I reckon it's going down there, or even less if the DownBlock is moved further.
As a result, the price is being pushed downwards and possibly preparing for the FBI auction.
Warning: Once the Blocks are lifted, be aware, the price will shoot up like you have never seen before, just like a spring exploding upwards once you release it after a hard push.
Personally, I'm happy with the above as I sold at $605 few days ago, I only lost $20 since the down-move.
I hope this gives an idea about what's going on, the question is: "Is this legal?!", well, since it's a decentralised currency, I don't think it can be questioned, or at least don't know ...
Either way; Good luck to all...
Kind Regards
Heider
No charts, here is what's happening (or at least what I am seeing) in layman's terms:
1) Few days ago, someone (or a group of people) placed an order to sell a 1000 coins @ $605. This causes the uptrend to almost stop going up beyond this line. I call this an "UpBlock".
2) Another DownBlock was placed the opposite way @ $540.5, this causes it to not go beyond this line.
3) As the BTC price as a result of (1) above, goes a little downwards (about between $5 or $10), the UpBlock is moved backwards to block any uprise in BTC closer to the new "lower" price.
4) During this movement; say it's now at $570, then someone places an ASK order for $100 at $571, and then another for $50 at $565, this causes a slow-tip downwards.
5) With the BTC bought above from (4), as they accumulate (Generate some BTCs as a result of buying), they would be placed to "Sell Now" type order which are about 100 BTC's each, this causes the price to shoot downwards for about $10 eventually in a ripple-effect.
6) There are about 3-4 people repeating the same, few seconds apart between them. this causes the price to go down further.
7) As the price has gone down another $10, the above is repeated.
8 ) Currently, the UpBlock as a result has been moved down gradually so far and currently at $569.500 for 1164 BTC's.
9) As I estimated earlier few days ago, I was expecting it to go into $573, but now with 900 BTC's placed downwards on $540, I reckon it's going down there, or even less if the DownBlock is moved further.
As a result, the price is being pushed downwards and possibly preparing for the FBI auction.
Warning: Once the Blocks are lifted, be aware, the price will shoot up like you have never seen before, just like a spring exploding upwards once you release it after a hard push.
Personally, I'm happy with the above as I sold at $605 few days ago, I only lost $20 since the down-move.
I hope this gives an idea about what's going on, the question is: "Is this legal?!", well, since it's a decentralised currency, I don't think it can be questioned, or at least don't know ...
Either way; Good luck to all...
Kind Regards
Heider
People and their charts - as if the Bitcoin market can be predicted. Charts are irrelevant in the face of an in-progress or upcoming "crises".
Once the auction is done, the price will resume normal rise / plateau / rise / plateau pattern.
Once the auction is done, the price will resume normal rise / plateau / rise / plateau pattern.
I don't like indicators.
They tell you what you should have done, not what you should do right now.
They tell you what you should have done, not what you should do right now.
Not looking good...
To add one more potential scenario, on reddit I've found an interesting comment by IkmoIkmo:
"And people don't realize that if you buy 30k coins on an exchange, the price increases, so you pay above spot-price average per bitcoin. As such, funds like BIT or Panterra are going to love paying simply the current exchange price for the bitcoin because that would be a huge discount for them compared to sourcing it from an exchange. So contrary to popular belief, these coins aren't going to be auctioned off for cheap!"
[source: http://www.reddit.com/r/Bitcoin/comments/280atj/calm_down_with_the_panic_selling_so_what_if_the/]
Having this in mind, if such a scenario occurs, the market will basically have no reason to react at all, as there will be no inflow or outflow of BTC as I've speculated earlier. After giving this a thought, this scenario sounds like the most probable, and the USMS would go for the highest bidder, so I wouldn't be surprised if such funds as those mentioned by IkmoIkmo would decide to pay a price a bit higher than the market price on the 27th.
Here is an interesting bit that supports IkmoIkmo's comment:
"Bitcoin’s institutional investors have recently noted that current exchange trading solutions are not optimised for high net-worth clients.
For example, Binary Financial’s Managing Partner Harry Yeh recently told CoinDesk that the upcoming US Marshals Service (USMS) auction of nearly 30,000 bitcoins confiscated from Silk Road has become appealing to his firm’s clients for providing a viable solution to real investor concerns.
Yeh explained how large buyers often pay an above-market price for large bitcoin orders, as the act of buying such a large volume of coins causes price slippage, whereby investors force the price of bitcoin to rise as their orders are being filled"
[source:http://www.coindesk.com/okcoin-encourages-large-scale-investment-with-algorithmic-trading-launch/ ]
I know you meant seized, but it still doesn't make sense.
The auction price won't be based on some silly little exchange price. It will probably be somewhat higher than exchange prices since it offers the opportunity for a venture capitalist, bank, or serious investor (typical bidder according to leaks) to buy a lot of coins at a relatively low price, without raising the price part way through the transaction.
A good strategy would be to win one or more of the auctions and then buy a couple of thousand coins at market price to greatly increase the value of the coins bought at auction.
It's not rocket surgery.
When we talk about a 1000 BTC, that's more than half a million dollars in today's price, if I had that sort of money at the moment, I would guarantee to "somehow" control (or have a little saying) in moving the price North or South. For someone having the power to buy 3000 BTCs; I would certainly expect the market to shake before and after that auction.
Heider
This is why the market is kind of flat at the moment. Many people are waiting to see how this pans out.
Opinions differ. I hear and hopefully understand your argument, but I still think that those with sufficient resources to participate ($200,000.00 may not seem like much but it excludes many) will have the foresight to see the opportunity to immediately increase the value of their new coins at little additional cost.
According to the leaked list of bidders, these aren't a bunch of petty daytraders, but rather those with a longer-term agenda.
Cheers.
I know you meant seized, but it still doesn't make sense.
The auction price won't be based on some silly little exchange price. It will probably be somewhat higher than exchange prices since it offers the opportunity for a venture capitalist, bank, or serious investor (typical bidder according to leaks) to buy a lot of coins at a relatively low price, without raising the price part way through the transaction.
A good strategy would be to win one or more of the auctions and then buy a couple of thousand coins at market price to greatly increase the value of the coins bought at auction.
It's not rocket surgery.
Hi Jimbo,
Yes, I meant seized, my spell-checker can be a devil sometimes.
In regards to the auction, I tend to disagree with you, I've been through auctions in the past, and (in a general auction) when someone sells something, it would be based on "today's" market price, Since the auction have not officially started yet, then today's price isn't known yet, and that it to be calculated at the beginning of the auction's date. Therefore, I still strongly believe that the price will be pushed down sooner or later by someone knowing what they're doing.
When we talk about a 1000 BTC, that's more than half a million dollars in today's price, if I had that sort of money at the moment, I would guarantee to "somehow" control (or have a little saying) in moving the price North or South. For someone having the power to buy 3000 BTCs; I would certainly expect the market to shake before and after that auction.
Therefore, even thought I might be wrong on this, but I would rather stick to my theory for now, as this is what I am already seeing on the BTC movement at the moment.
Kind Regards
Heider
I've got around $7500 ready to pump in, just awaiting the "opportune moment" 
If the price is being pushed down intentionally to get the large BTCs ceased by the FBI at a lower price, then I think it's probably best to consider buying when closer to the auction date (i.e. 28th of June). I think a month after that date, the BTC would rocket up somehow.The auction price won't be based on some silly little exchange price. It will probably be somewhat higher than exchange prices since it offers the opportunity for a venture capitalist, bank, or serious investor (typical bidder according to leaks) to buy a lot of coins at a relatively low price, without raising the price part way through the transaction.
A good strategy would be to win one or more of the auctions and then buy a couple of thousand coins at market price to greatly increase the value of the coins bought at auction.
It's not rocket surgery.
I've got around $7500 ready to pump in, just awaiting the "opportune moment"
Not right now...wait a bit! Do it as soon as you see positive divergence...
If the price is being pushed down intentionally to get the large BTCs ceased by the FBI at a lower price, then I think it's probably best to consider buying when closer to the auction date (i.e. 28th of June). I think a month after that date, the BTC would rocket up somehow.
Regards
Heider
I've got around $7500 ready to pump in, just awaiting the "opportune moment"
Not right now...wait a bit! Do it as soon as you see positive divergence...
nice 1 oddball.
I've got around $7500 ready to pump in, just awaiting the "opportune moment"
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